Direct answer
Binance resumed withdrawals on Sunday, November 1, 2026, after covering 95 percent of the $6.3 billion in tokens stolen in its October hack. Bitcoin withdrawals restarted shortly after 0600 GMT, with ether and some other assets following in a first phase, while the remaining assets will return in later phases.
What happened
Reuters reported on November 1 that Binance, the world’s biggest cryptocurrency exchange, resumed bitcoin, ether and some stablecoin withdrawals on Sunday and said others would follow in phases. The first phase covers 15 crypto assets, including bitcoin, ether, XRP and dogecoin. Binance said on its status page shortly after 0600 GMT that the planned withdrawals had begun.
Binance said it had covered $6 billion of the stolen cryptocurrencies by using company money to buy replacement tokens. That is 95 percent of the $6.3 billion total. The remaining 5 percent consists of assets that are less liquid and may take longer to source in the required amounts, according to the exchange.
The money used to buy replacement tokens came from Binance’s $1 billion Secure Asset Fund for Users, known as SAFU, a bitcoin reserve it holds to protect customers in the event of security breaches, as well as some of its Futures Insurance Fund and its corporate treasury. Co-CEO Yi He said on Saturday that 50 percent of SAFU funds would be used, while the company committed to replenishing the fund to about $1 billion.
Binance has also set aside around $6.34 billion of company funds internally to cover the losses, and said about $3 billion in affected assets had been located as of Friday through work with industry partners to freeze some of the stolen funds. The exchange has repeatedly said it would bear the financial impact of the hack.
This is a new step beyond the position reported on October 31, when Binance said it had covered about 90 percent of the loss and was on track to reopen withdrawals on November 1. For that earlier update, see Binance Says It Has Covered 90% of the $6.3 Billion Hack Loss: https://investclaritypath.com/binance-covers-90-percent-hack-loss-withdrawals-november-1/
The FBI said on Saturday that the North Korean state-sponsored unit known as TraderTraitor was responsible for the attack. Law enforcement observed members of the unit converting stolen assets into ether and expects further laundering through related technology, the FBI said. US President Donald Trump said on Saturday that the United States was still not certain if North Korea was involved.
Why it matters for beginners
A cryptocurrency exchange holds customer assets so people can buy, sell and move tokens. When withdrawals are paused after a hack, customers cannot move their own funds out, even if their own account was not directly attacked. Reopening withdrawals in phases is therefore the practical moment when access starts to return.
The 95 percent figure matters, but it does not mean every token is instantly available. Binance is reopening 15 assets first, so a customer holding a different asset may still have to wait for a later phase. The remaining 5 percent is also a reminder that replacing stolen tokens takes time when an asset is hard to buy in large amounts quickly.
For beginners, the wider lesson is simple. An exchange account is not the same as holding assets in your own wallet, and a large hack can freeze access for days. That is why many guides suggest learning how custody works before keeping large balances on any single platform, and why news about recovery and withdrawal reopening is watched so closely after a major theft.
What to watch next
Watch for Binance to announce the next phases of withdrawals and confirm which assets are restored next. Also watch for updates on the remaining 5 percent of stolen tokens, and for any further statements from law enforcement about tracing or freezing the stolen funds. If later phases open on schedule, that will be a stronger sign that the recovery is holding. If delays appear, or if new security problems are reported, access could tighten again.
FAQ
Can all Binance customers withdraw now?
No, not all assets at once. The first phase covers 15 crypto assets, including bitcoin, ether, XRP and dogecoin. Other assets are due to follow in phases.
Does 95 percent covered mean the hack is fully fixed?
No. Binance has covered $6 billion of the $6.3 billion stolen by buying replacement tokens with company money. The remaining 5 percent is made up of less liquid assets that may take longer to source.
Is this the same hack as the one reported on October 30?
Yes. This is the next step in the same $6.3 billion theft, which the FBI has tied to North Korea’s TraderTraitor unit. Earlier posts covered the hack itself, the FBI attribution, and Binance reaching 90 percent coverage.
What happened to the stolen funds?
Binance said about $3 billion in affected assets had been located as of Friday through work with industry partners to freeze some of the funds. The FBI said members of the TraderTraitor unit were observed converting stolen assets into ether.
Sources
Reuters, Binance resumes bitcoin, ether withdrawals after covering bulk of stolen $6.3 billion, November 1, 2026: https://wncy.com/2026/10/31/binance-to-resume-withdrawals-after-recovering-bulk-of-6-billion-in-stolen-funds/
Reuters via The Hindu BusinessLine, Binance to resume withdrawals after recovering bulk of $6 billion in stolen funds, November 1, 2026: https://www.thehindubusinessline.com/money-and-banking/cryptocurrency/binance-to-resume-withdrawals-after-recovering-bulk-of-6-billion-in-stolen-funds/article71652155.ece
This article is for general information and education only. It is not legal or financial advice.